Subject: Trilateral MOU signed between DAB, Afghan Post, and Afghan Banking Association to provide banking services through branchless banking
September 7, 2020
Today a trilateral MOU was signed between DAB, Afghan Post, and Afghanistan Banking Association. The main purpose of this MOU is to facilitate access to the banking services through branchless banking.
One of the principles of the DAB new acting governor Mr. AjmalAhmady is to increase financial inclusion through expanding banking services and digital payments in Afghanistan. The signing of this MOU makes us one step closer to this goal. Based on this MoU, banks would be able to provide banking services in areas where they do not have branches, by using the Afghan Posts branches as bank’s agents.
Afghan Post is a state-owned enterprise that is providing universal postal services through more than 450 branches throughout the country. Afghan Post will provide these services in light of the banking rules and regulations.
This MOU will have an immediate and large benefit for Afghanistan. Some benefits of this approach include:
- An immediate way to have a bank branch in every part of Afghanistan
- The ability to pay teachers in their home province instead of forcing them to travel to the capital of each province
- An immediate way to provide loans throughout the country